Inflation rate at 9.7% y/y and 0.2% m/m in April 2016
Annual CPI inflation rate inched up to 9.7% in April 2016 from 9.2% in the previous month, according to AzSTAT. In April, food prices were up 9.7% y/y (-0.4ppts m/m), non-food prices were up 15.5% y/y (+1.0ppts m/m), and service sector prices were up 4.7% y/y (+0.9ppts m/m).
On a monthly basis, inflation rate was 0.2% in April 2016. Food prices were up 0.1% (-0.2ppts m/m), non-food prices were up 0.5% y/y (0.0ppts m/m), and service sector prices were flat (-0.5ppts m/m).
SOCAR tax payments down 9.6% y/y in April 2016
According to SOCAR statistics, it paid AZN 119.8mn (-9.6% y/y) in taxes to the state budget and AZN 13.1mn (+10.3%y/y) to the State Social Protection Fund in April 2016.
In 4M16, SOCAR paid AZN 445.0mn (-5.9% y/y) to the state budget and AZN 45.1mn (-3.2% y/y) to the State Social Protection Fund.
Customs Committee receipts up 60.9% y/y in April 2016
Boosted by VAT receipts, Customs Committee revenues increased 60.9% y/y to AZN 227.4mn in April 2016 and 33.3% y/y to AZN 644.3mn in 4M16, making up 35.6% of budgeted revenues for 2016.
